Obama to launch ‘crack down’ on manipulation, rigging of oil markets

President Obama will offer a plan Tuesday to boost oversight of oil markets and “crack down” on potential manipulation, the White House said.

Obama is slated to deliver a Rose Garden statement in the late morning, the latest in a slew of recent energy-related speeches and remarks as the White House seeks to limit political damage from high gasoline prices.

Gasoline prices have risen sharply this year but recently leveled off and eased slightly. The average nationwide cost for regular gasoline is $3.90 per gallon, according to AAA.